WASHINGTON — In real estate, it’s all about location, location, location.But as credit unions and other financial service providers awaited a draft of the Senate regulatory restructuring, a key negotiator of the bill said when it comes to a new consumer agency, location is less important than teeth.

Sen. Bob Corker (R-Tenn.) said last Thursday that members of his party don’t want a final bill in which consumer protection would trump safety and soundness concerns and that he and Senate Banking Committee Chairman Christopher Dodd (D-Conn.) had reached agreement on placing the new consumer regulator inside the Federal Reserve. Dodd was planning to unveil legislation on his own, without Republican co-sponsors on Monday March 15.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.